ESI assisted Campus Philly in developing its new report summarizing the impacts of retaining graduates from area colleges and universities on Philadelphia and the Delaware Valley. Released during its stakeholders conference “Young, Smart, and Local” April 9th, the report sets a course for higher ed and talent retention as an economic development strategy. Econsult Solutions Principal and Senior Vice President Lee Huang presented insights from the research as part of a panel discussion held during the conference.
ESI analyzed data from a variety of sources to measure growth in young graduates in Philadelphia relative to peer cities, and the local economic impact of that growth. The analysis found that from 2000 to 2017, the city’s overall population grew by 4 percent, but the number of young adults with college degrees increased by 115 percent, to 128,400. This growth rate exceeded all but one other major peer city. In addition, ESI employed a unique approached to mine student retention data from more than 1.2 million local alumni from Linked In’s “Career Insights” platform. Among the most recent cohort of attendees (2010-2014), 54% of alumni are currently within the Philadelphia region.
Campus Philly is fueling economic growth by encouraging college students to study, explore, live, and work in the Greater Philadelphia region. Its Young, Smart, & Local Conference, held April 9-10 engaged leaders from higher education, business, government, economic development, and community organizations to explore best practices for talent growth and attraction.
Econsult Solutions has helped institutions of higher education quantify and demonstrate their valuable impacts on communities. Learn more about our Solutions For Universities and Hospitals.
Fernandez, Bob (2019, April 9) If Philly job growth doesn’t keep up, millennials will go where the good jobs are, new study warns; The Inquirer, Retrieved from http://www.philly.com/business
Caffrey, Michelle (2019, April 9) Philadelphia beats out Boston in keeping college grads, new Campus Philly report finds; Philadelphia Business Journal, Retrieved from http://www.bizjournals.com/philadelphia/news